Rs 1,431-crore World Bank loan for AP civic projects

Hyderabad: In a major fillip to the urban
development sector in Andhra Pradesh, the World Bank has
approved a loan of 300 million US dollars (approximately Rs
1,431.91-crore) under the Andhra Pradesh Municipal Development
Project.

Disclosing this at a meeting on urban development today
Chief Minister K Rosaiah said the World Bank loan would
provide a big impetus to the government`s initiative in taking
up qualitative works in various municipalities to meet the
civic and infrastructure requirments of urban people.

The Chief Minister said the total project cost is Rs
1,670.55-crore (350 Million US dollars), out of which the
State government`s share would be Rs 238.64-crore (50 million
US dollars). The project would commence from February 15 next
and is expected to close by December 31, 2015.

"The loan agreement is expected to be signed during
this month", Rosaiah said.